Robinhood has announced that similar to trading stocks on the app, there will be no commissions for any cryptocurrencies, and while you can do the same with Gdax which is linked to the Coinbase wallet, it will give a massive edge in the other altcoins that Robinhood is planning to list that currently have transaction fees on their exchanges, in addition to having two different prices to pick the lower one to buy BTC/ETH/LTC/BCH from.
I think there is something important to note before you start investing in cryptocurrency on Robinhood. While I think it is a great app in many aspects, the way they handle cryptocurrency is bogus. View more on https://cryptonewstrends.com/
You don’t actually own the Bitcoin or Ethereum that you buy, you essentially just own shares of it. What I mean by that is that you don’t actually hold your private key.
You can’t send your Bitcoin to your wallet or to your friend.
You can’t use your Ethereum to invest in a great new ICO.
For this reason, I don’t recommend Robinhood Crypto, even though I have used the app to invest in stocks before.
I think there is something important to note before you start investing in cryptocurrency on Robinhood. While I think it is a great app in many aspects, the way they handle cryptocurrency is bogus. View more on https://cryptonewstrends.com/
You don’t actually own the Bitcoin or Ethereum that you buy, you essentially just own shares of it. What I mean by that is that you don’t actually hold your private key.
You can’t send your Bitcoin to your wallet or to your friend.
You can’t use your Ethereum to invest in a great new ICO.
For this reason, I don’t recommend Robinhood Crypto, even though I have used the app to invest in stocks before.